GAIL India Posts 20% Rise In Profits In March Quarter And Plans To Invest Big In Domestic Supply

摘要

GAIL(India)is going places.India’s premier gas and midstream player remains one of the strongest PSU muscle in the segment today.Gail has reported a 20% rise in its March quarter profit at ￡1,222.23 crore from ￡1,020.92 crore in the same period of the previous fiscal.Revenue rose to ￡18,763.87 crore in the fourth quarter of 2018-19 fiscal year when compared with ￡15,430.69 crore net profit in the year-ago period.GAIL India plans to list its subsidiary Gail Gas and is aggressively investing in city gas distribution to create volumes before it takes the company to the market,a top company official said.The Maharatna firm has planned a capital expenditure of ￡54,000 crore,which it will spend over the next two-three years in laying of gas pipeline network that will feed households and industries such as fertiliser plants.